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Mr Bayarsaihan is 43 years old and lives with his wife and his 3 children in their own little house, in Hovd province in Mongolia. His wife works at the central hospital for the western part of Mongolia. 2 of his children study at university, and the younger one is a secondary school student. Mr.Bayarsaihan has been growing vegetables in his garden since 2010. He has also built a vegetable pit and bought 4 head of cattle this year. The production of milk per cow is 10 liters. He produces dairy products from the milk and sells them daily. He harvests grasses for his herd from the garden. He is a hardworking and sophisticated person. He is requesting 5,500,000 MNT to build a barn and to cover the expense of harvesting vegetables from his garden.

Additional Information

More information about this loan

This loan is part of XacBank's green loan program, giving Mongolian farmers the support they need to grow and process organic fruits and vegetables despite harsh conditions and short growing seasons. These loans are used to obtain critical resources, like greenhouse space to shield crops from the cold, and training for traditionally nomadic entrepreneurs who lack agricultural experience. XacBank's green loan program also helps clients to improve their heating and ventilation systems, reducing pollution and health problems caused by burning fuel.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,382.4
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $4,000 helped Bayarsaihan to build a barn and to cover the expense of harvesting vegetables from his garden.
100% repaid
Repayment Term
38 months (Additional Information)
Repayment Schedule
Oct 3, 2012
Oct 23, 2012
Currency Exchange Loss:
Jun 17, 2013